(Bloomberg) -- The Bank of Mexico unexpectedly raised its overnight lending rate by a quarter percentage point to `reinforce' its commitment to fighting inflation that has remained at or above its target range this year.
Policy makers raised the benchmark rate to 7.25 percent, the first increase in almost two years. The increased surprised all 16 economists in a Bloomberg survey who predicted policy makers would keep the benchmark rate at 7 percent.
Read more at Bloomberg Emerging Markets News
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